EPFO – Employees’ Provident Fund Organization had given an notice to all of its PF subscribers. In the notice, the retirement fund body urged its members to filetheir e-Nomination so that the social security of the account holder’s family can be ensured.
The EPFO tweeted out from the official Twitter handle urging members to do the same and also included a video that showed the step-by-step process on how to do it. In the tweet, it read, “Members should file e-Nomination today to provide #SocialSecurity to their families. Follow these easy steps to file EPF/EPS nomination #digitally.”
Here is How You can File your EPF/EPS Nomination Digitally
Step 1: Go to the official EPFO website.
Step 2: Click on the ‘Services’ option.
Step 3: Then click on the ‘For Employees’ section.
Step 4: Once you are redirected, click on the ‘Member UAN/Online Service’ option.
Step 5: You will be redirected to the official Member e-SEWA portal, where you have to log in. Do so using your UAN, password and captcha code for the same.
Step 6: Once inside the portal, go to the ‘Manage’ tab on the drop-down menu and select E-Nomination
Step 7: Select the ‘Yes’ option to update the family declaration
Step 8: Click on ‘Add Family Details’ (Keep in mind that you can add more than one nominee as well, to make sure multiple family members are ensured).
Step 9: Select ‘Nomination Details’ so that you can declare the total amount of the share.
Step 10: Once you have done that, click on ‘Save EPF Nomination’.
Step 11: After you move to the next page, click on the ‘E-sign’ option to generate the One-Time Password (OTP). This will be sent to the mobile number that is linked with your Aadhaar card.
Step 12: Insert the OTP sent to your registered mobile number.
Step 13: As you finish that, the process of registering e-Nomination with the EPFO will be complete.
In June of this year, the EPFO increased the maximum assurance benefit under the Employees’ Deposit Linked Insurance (EDLI) scheme to Rs 7 lakh. The EDIL Scheme was made mandatory as an insurance cover for all employees who were enrolled in the EPF. Under this scheme, the nominee would receive a payout of up to Rs 7 lakh if the employee dies due to natural causes, illness or accident. Every organisation that is under the EPF and Miscellaneous Provisions Act, 1952 get enrolled for EDLI automatically. The minimum payout for death insurance was Rs 2 lakh while the upper limit was Rs 6 lakh. This was then increased to a range of Rs 2.5 lakh to Rs 7 lakh.
The Labour Ministry then said that the minimum assurance benefit of the EDLI would provide for the family of the deceased employee, even if they had worked in more than one firm in the last 12 months leading up to the time of their death…Read more>>